BNP Paribas Financial Markets Has $185.59 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

BNP Paribas Financial Markets grew its stake in shares of Energy Transfer LP (NYSE:ET) by 36.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,563,478 shares of the pipeline company’s stock after purchasing an additional 3,106,631 shares during the period. BNP Paribas Financial Markets owned about 0.34% of Energy Transfer worth $185,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ET. SVB Wealth LLC raised its stake in Energy Transfer by 40.1% during the 1st quarter. SVB Wealth LLC now owns 31,669 shares of the pipeline company’s stock valued at $498,000 after purchasing an additional 9,072 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of Energy Transfer by 31.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock valued at $2,505,000 after buying an additional 38,383 shares in the last quarter. Tidal Investments LLC raised its position in Energy Transfer by 12.9% during the first quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after buying an additional 9,849 shares during the period. Virtu Financial LLC lifted its stake in Energy Transfer by 288.8% in the 1st quarter. Virtu Financial LLC now owns 241,360 shares of the pipeline company’s stock worth $3,797,000 after acquiring an additional 179,280 shares in the last quarter. Finally, Independent Wealth Network Inc. boosted its position in Energy Transfer by 5.1% during the 1st quarter. Independent Wealth Network Inc. now owns 45,643 shares of the pipeline company’s stock worth $718,000 after acquiring an additional 2,219 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $19.19 on Wednesday. The firm has a market cap of $65.71 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The company’s fifty day moving average is $16.78 and its 200-day moving average is $16.22. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $19.35.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.72%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Analyst Ratings Changes

Several equities analysts have weighed in on ET shares. Royal Bank of Canada lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.